U.S. equities continued their upward trajectory on Friday, September 19, 2025, with major indexes hitting fresh record highs, extending a rally fueled by renewed optimism following the Federal Reserve's recent interest rate cut. Technology stocks once again led the charge, pushing the Nasdaq Composite and S&P 500 to new milestones. Investors are keenly watching for further economic signals and upcoming corporate earnings to gauge the market's sustained momentum.

Market Performance Recap

The major U.S. stock indexes closed higher for a second straight day, capping a strong week. The S&P 500 gained 0.5%, finishing at 6,631.96 points, and the tech-heavy Nasdaq Composite climbed 0.7%, closing at 22,470.73. Both indexes recorded their third consecutive week of gains. The Dow Jones Industrial Average also advanced, ending up 0.4% at 46,142.42 points. All three benchmarks set both intraday and closing records today. The small-cap Russell 2000 index, after hitting a record high earlier in the day, turned lower to end down 0.7%.

This positive sentiment follows the Federal Reserve's decision earlier in the week to cut interest rates by 25 basis points, the first such reduction in 2025. While the initial reaction was mixed, investors have since embraced the move as a signal of the Fed's commitment to supporting economic recovery amidst signs of labor market softening. The market is now pricing in expectations for two more rate cuts by year-end, though the exact timing will depend heavily on upcoming economic data.

Major Stock News and Movements

Today's market saw several significant corporate developments influencing individual stock performances:

Intel (INTC) shares, which had surged nearly 23% on Thursday, finished down more than 3% today. This comes after Nvidia (NVDA) announced a $5 billion investment in Intel to co-develop data center and PC chips. Nvidia's stock, a strong performer yesterday, ended up 0.2% today. This partnership highlights the ongoing intense competition and collaboration within the semiconductor industry, particularly in the booming AI sector.

Apple (AAPL) shares rose more than 3% as its new iPhone 17 models went on sale globally, with strong demand reported. This positive reception for its latest flagship product provided a significant boost to the tech giant.

FedEx (FDX) stock advanced 2.4% after the delivery giant reinstated its full-year outlook and reported stronger-than-expected quarterly profit and revenue, driven by a robust domestic package business. FedEx's performance is often seen as a key indicator of broader economic health.

In contrast, homebuilder Lennar (LEN) saw its shares fall 4% after the company reported weaker-than-expected revenue and profit for the quarter, citing ongoing pressures in the housing market. This decline also impacted other homebuilding competitors like D.R. Horton (DHI) and KB Home (KBH).

Oklo (OKLO) shares continued their remarkable surge, hitting an all-time high for a third straight day and soaring nearly 25% today. The nuclear energy firm's stock has skyrocketed over 500% in 2025, with analysts initiating "buy" ratings, citing its strong position to meet the rising energy needs of AI.

Micron Technology (MU) saw its stock dip 3.5% today, on track to snap a 12-session winning streak that had driven it more than 40% higher. Investors are anticipating Micron's fiscal fourth-quarter results next week, with expectations of a "beat-and-raise" performance.

On the geopolitical front, President Donald Trump and Chinese leader Xi Jinping reportedly confirmed a deal that would see TikTok avoid a U.S. ban. Shares of Oracle (ORCL), which is reportedly part of a consortium to control TikTok's U.S. operations, closed up 3%.

Earnings Announcements After Market Close

Following the market close today, several companies released their earnings reports. IperionX Limited ADR (IPX) was among those, with analysts forecasting an EPS of -0.04 and revenue of $8.91 million. Cantaloupe (CTLP) reported an actual EPS of $0.09 against a forecast of $0.105. Other companies like Golden Matrix (GMGI), Anixa Biosciences (ANIX), and Anebulo Pharmaceuticals (ANEB) also had their results announced, with various forecasts and actuals. These after-hours announcements will likely influence trading at the market open next week.

Upcoming Market Events

The coming week is packed with important economic data and corporate earnings that could significantly impact market sentiment.

Economic Data:

  • Monday, September 22: Flash PMI surveys for various regions, providing insights into growth, jobs, and inflation.
  • Tuesday, September 23: Consumer Confidence data for the U.S. and Europe.
  • Wednesday, September 24: FOMC meeting minutes release, offering a detailed record of the Federal Reserve's latest policy discussions. Also, Durable Goods Orders will be released.
  • Thursday, September 25: Initial Jobless Claims and the final estimate for Q2 GDP.
  • Friday, September 26: The highly anticipated Personal Consumption Expenditures (PCE) price index, the Fed's preferred measure of inflation, will be released. Revised US GDP numbers and home sales data are also expected.

Key Earnings Releases Next Week:

Several prominent companies are scheduled to report their quarterly results next week. Micron Technology (MU) will report its fiscal fourth-quarter results on Tuesday, September 23, with investors closely watching for guidance on high-bandwidth-memory pricing. Costco Wholesale (COST) is set to report its fiscal fourth-quarter earnings after the market closes on Thursday. AutoZone (AZO) will release its fiscal fourth-quarter earnings before Tuesday's opening bell. Other companies like Darden Restaurants, Inc. (DRI) and FactSet Research Systems Inc. (FDS) are also on the earnings calendar for next week.

The market remains focused on the Federal Reserve's future rate path, with Fed speakers returning to the circuit after the blackout period. Minneapolis Fed President Neel Kashkari has indicated he foresees two more rate cuts this year, citing a slowdown in hiring. The interplay between inflation trends, labor market data, and the Fed's policy decisions will continue to be central to market movements in the coming weeks.